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Presented below is information related to Tamarisk Enterprises. Jan. 31 Feb. 28 Mar. 31 Apr. 30...

Presented below is information related to Tamarisk Enterprises. Jan. 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost $17,400 $17,516 $19,720 $16,240 Inventory at LCNRV 16,820 14,616 18,096 15,428 Purchases for the month 19,720 27,840 30,740 Sales for the month 33,640 40,600 46,400

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Answer #1
Presentation of Income Statement
Trading A/c For January
Particulars Amount Particulars Amount
Opening Stock 0 Sales 33640
Purchase 19720 Closing Stock 16820
Gross Profit 30740
50460 50460
Trading A/c For February
Particulars Amount Particulars Amount
Opening Stock 16820 Sales 40600
Purchase 27840 Closing Stock 14616
Gross Profit 10556
55216 55216
Trading A/c For March
Particulars Amount Particulars Amount
Opening Stock 14616 Sales 46400
Purchase 30740 Closing Stock 18096
Gross Profit 19140
64496 64496
Trading A/c For April
Particulars Amount Particulars Amount
Opening Stock 18096 Sales
Purchase Closing Stock
Gross Profit -18096
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